History of thought course video: Hayek and the knowledge problem

Not surprisingly, given the title of this blog and the focus of my research, the last video in the series for my history of economic thought course provides an introduction to Hayek and the knowledge problem. Hayek’s work in the 20th century explored a range of ideas, one of the most important of which was … More History of thought course video: Hayek and the knowledge problem

Course video 8: Joseph Schumpeter, economic growth, and creative destruction

Another video from my history of economic thought course — this time it’s Joseph Schumpeter, famous for his work on economic growth and innovation. Schumpeter was an inconoclastic economist who was influential well beyond his reputation. From his education and original academic and civil service work in Austria, Schumpeter went on to a long, productive career … More Course video 8: Joseph Schumpeter, economic growth, and creative destruction

Course video: Alfred Marshall and the neoclassical synthesis

Here’s the next video from my history of economic thought course, on Alfred Marshall. Alfred Marshall and the Neoclassical Synthesis from Lynne Kiesling on Vimeo. Alfred Marshall was one of the most important economists shaping the field as we practice it today. By synthesizing the classical economics focus on production and costs with the new … More Course video: Alfred Marshall and the neoclassical synthesis

Course video 6: Léon Walras and general equilibrium

Lynne Kiesling Léon Walras and General Equilibrium Theory from Lynne Kiesling on Vimeo. I knew from the first economics course I took that I loved economics — the systematic analytical framework for understanding humans and our decisions, and the implications of those decisions for individuals and in aggregate, captivated me. I loved (and still do … More Course video 6: Léon Walras and general equilibrium

Course video 5: The marginal revolution and Carl Menger

Lynne Kiesling The Marginal Revolution in Economics from Lynne Kiesling on Vimeo. A fundamental question in economics is value theory — where do prices come from, what determents the value of a commodity, product, or good? The classical economists operated with a labor theory of value, but in the mid-19th century, three different economists from … More Course video 5: The marginal revolution and Carl Menger

Course video 3: David Ricardo on rent and on trade

Lynne Kiesling David Ricardo: Principles of Political Economy & Taxation from Lynne Kiesling on Vimeo. You may know David Ricardo for his pioneering analysis of comparative advantage as the foundation of mutually beneficial specialization and trade. Ricardo’s work goes farther and deeper than that, exploring (among other things) the determinants of rent accruing to fixed … More Course video 3: David Ricardo on rent and on trade